Housing Price is far from bottom !!!

2/23/09

The above chart is made by Professor Shiller. And he has few key points:

• House prices are still only halfway back down to fair value.
• Prices don't usually stop at fair value.
• Obama's plan won't turn house prices around

My comment: Well, like I often cited my analysis approach, we need to see average of last 3 to 6 months data as more concrete base to predict the housing may be reaching the bottom. However, as Professor Shiller's analysis, we are far far from bottom. Good luck to folk who buy real-estate as investment now even the mortgage rate is going lower.
At the time I write this post, Dow is just breaking new fresh bear market low. I believe the damage has been done that S&P no longer sustain the support zone area 740-750.